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Am filing an 1120 S return myself this year as I didn't have
Am filing an 1120 S return myself this year as I didn't have any income in this corp in 2018. On schedule B item 10 I meet both requirements of total receipts and assets less than $250K. So according … read more
PDtax
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WHAT AMOUNT SHOULD BE STATED ON THE SCHEDULE L (BALANCE
WHAT AMOUNT SHOULD BE STATED ON THE SCHEDULE L (BALANCE SHEET) OF A FORM 1120 FOR THE BUILDING? IS IT THE ADJUSTED COST BASIS OR THE FAIR MARKET VALUE OF THE ASSET? … read more
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Where on 1120 I report Owner investment? If I dont, Balance Sheet, Schedule L is not balancing… read more
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I have an LLC with S corp election but I revoked my S corp
I have an LLC with S corp election but I revoked my S corp election year end 2017. I am completing my 2017 1120S now. Do I mark it as a "final return" as well as "s election termination or revocation"… read more
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I am working on an S-Corp return and need some help. It is
I am working on an S-Corp return and need some help. It is for a retail store that closed the physical location but continuing with an online store. The schedule L was in balance for 2014 but it is of… read more
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My end of year total assets dont balance w ith liability and
my end of year total assets dont balance w ith liability and equity... … read more
Stephen G.
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Line 27 of Schedule L is out of balance to Assets by exactly
Line 27 of Schedule L is out of balance to Assets by exactly income. Where should income be included? … read more
Lane
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Doctoral Degree
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When I put the correct amounts on Sch L of 1065, the M-2 comes
When I put the correct amounts on Sch L of 1065, the M-2 comes up out of balance. I'm thinking it's the beginning balance..Is there a legitimate adjustment to make it balance since I didn't do the boo… read more
jgordosea
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I am filing a 1120s for a newly openned S corp for tax
I am filing a 1120s for a newly openned S corp for tax period 2013. I have to file a Schedule L and do not understand how to do this. the corporation was an LLC last year that i filed with a Schedule … read more
Tax.appeal.168
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Where exactly do I get numbers for lines 6, 22 and 24 for the
Where exactly do I get numbers for lines 6, 22 and 24 for the beginning of the year and end of the year?… read more
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My balance sheet generated in Quickbooks, in addition to listing
My balance sheet generated in Quickbooks, in addition to listing my Capital Stock, and my retained earnings, lists a negative equity amount as part of satisfying the Assets = Liabilities + Equity. I w… read more
Shane-CPA
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I went to the bank to get a loan, their accountant says that
I went to the bank to get a loan, their accountant says that my schedule L on tax form 1065 for partnership is not in balance as it should be. My accountant has redone the form and still not in balanc… read more
PDtax
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I have completed an 1120S and because I reconciled the companys
I have completed an 1120S and because I reconciled the company's corrected and reconciled the company books this year for all prior years, this year's schedule L will be correct which means beginning … read more
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I am a single member LLC, with S corporation classification
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I own an S-corp which has always been an S-corp. I purchased 100% of the stock in the corporation from another person for $94,360. It was a stock sale. When completing schedule L (Balance Sheet) of 11… read more
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Fill form 1120 , income statemstn, balance sheet , schedule
Fill form 1120 , income statemstn, balance sheet , schedule m-1 & m-2 sales 877,000 Cost of good sold 280,000 dividends received 60,000 rent expense 181,000 salaries paid to owner 100,000 salaries pai… read more
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My 2007 1120S did not include $37 on Schedule L line 18 for
My 2007 1120S did not include $37 on Schedule L line 18 for credit card payable. I am preparing the 2008 1120S and cannot get Schedule L to balance. What entry do I need to make to correct this?… read more
JKCPA
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RE understanding a tax return - how do you read a Schedule
RE: understanding a tax return - how do you read a Schedule L (Form 1120S) - the a, b, c & d column confuse me. any helpful tips is appreciated. Thanks!… read more
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